So nervous!

[Anonymous]

Received notification that my file is in underwriting and should have a answer either today or tomorrow. This is my first time purchasing a house so for my nerves' sake I hope I get a answer back today. What are the odds of being approved without conditions? I think my biggest fear is they will come back with some crazy conditions that will take a while to meet. We were originally scheduled to close on the 28th but I'm hoping to close early on the 24th. I'm assuming we would need a pretty clean approval to make that happen?

[kc0039]

You would need a clean approval. If I was your lender, the approval would only show us requesting for homeowners insurance and some other clerical stuff, then you can close early.

[Anonymous]

I went ahead and sent over a copy of the homeowners insurance before they submitted to underwriting since I knew they would ask for it later. The first payment for homeowners insurance is paid out of the escrow account, correct?

[MauiMan85297]

---

@Anonymous wrote:
I went ahead and sent over a copy of the homeowners insurance before they submitted to underwriting since I knew they would ask for it later. The first payment for homeowners insurance is paid out of the escrow account, correct?

---

That would be correct, mine was only $550 and was paid for the year.  My HOA was paid for the quater (till Apr) then it comes from me every month.

[kc0039]

If you are escrowing, they generally send everything out once per year. They collect 1/12 of your taxes and insurance, add that to your monthly mortgage, then when they are due they dsiburse the funds. If you are purchasing a house, either they collect the entire year up front, or require the entire premium to be paid.

[Anonymous]

My disclosures show 12 months of home ins under prepaids and then another 4 months for home ins in escrow.

[BlueEyedwitch]

Good luck!  I close on the 28th as well.  I got my HUD sheet yesterday!    

[Anonymous]

---

@BlueEyedwitch wrote:

Good luck!  I close on the 28th as well.  I got my HUD sheet yesterday!    

---

Congrats! I am the type who stresses about everything. This waiting game is making me sick at my stomach haha! 

[Anonymous]

I was nervous as well, but always expect something as a condition.  For me THANKFULLY it was standard stuff since mine is a new build: appraisal, newer copies of paycheck stubs and bank accounts closer to that time, yadda yadda.

I just knew there was going to be some crazy request, and there might still be when it comes time, but for now, I am resting easy since I have my list and I am prepared. 

[Sbrooks1]

At what point is he title work done? I worry more about an unknown old public record than anything. Especially after seeing so many my fico get shut down day before closing! I think I will clear UW with minor conditions but I'm not sure about title😩